CollegeBound Saver is a tax-advantaged savings plan designed to encourage Rhode Islanders to affordably save for college. As a "529 plan", investments and earnings can be used at accredited colleges, universities, vocational school and trade schools across the nation.
Benefits of saving for a child’s education through CollegeBound Saver include:
To learn more about CollegeBound Saver please visit www.collegeboundsaver.com or call (877) 517-4829.
CollegeBoundbaby is an enhancement of CollegeBound Saver and is designed to help Rhode Island families get an early start saving for their child's higher education.
Every child born to or adopted by Rhode Island families is eligible for a $100 CollegeBoundbaby grant to be used for higher education.
The grant will be held and invested by the Office of the General Treasurer in a CollegeBound Saver master account on behalf of the child until the child is ready to attend a higher education institution.
Parents can easily apply for the grant when they check the box on the "Birth Worksheet" at the hospital or they can download, complete and return the form before their child's first birthday.
The grant is also available to Rhode Island residents who adopt a child and submit the enrollment form within one year of the child's adoption date.
Completed forms should be sent to:
Office of the General Treasurer
50 Service Ave.
Warwick, RI 02886
Learn more at www.collegeboundbaby.com.